Released Players
Released/waived players with guaranteed contracts continue to be included in their former team's payroll. Players whose contracts are not guaranteed are included in team salary in the amount they made while they were with the team. Players on non-guaranteed "summer contracts" are not included in team salary unless they make the regular season roster.
If another team signs a released player who had a guaranteed contract (as long as the player has cleared waivers), the player's original team is allowed to reduce the amount of money they still owe the player (and lower their team payroll) by the right of set-off. This is true if the player signs with any professional team—it does not even have to be an NBA team. The amount the original team gets to set off is limited to one-half the difference between the player's new salary and a pro-rated share of the minimum salary for a one-year veteran (if the player is a rookie, then the rookie minimum is used instead).
Read more about this topic: NBA Salary Cap
Famous quotes containing the words released and/or players:
“Justice has its anger, my lord Bishop, and the wrath of justice is an element of progress. Whatever else may be said of it, the French Revolution was the greatest step forward by mankind since the coming of Christ. It was unfinished, I agree, but still it was sublime. It released the untapped springs of society; it softened hearts, appeased, tranquilized, enlightened, and set flowing through the world the tides of civilization. It was good. The French Revolution was the anointing of humanity.”
—Victor Hugo (1802–1885)
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—Don Delillo (b. 1926)